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Bitcoin Surge Expected as BitMEX Co-Founder Anticipates Rise in Dollar Liquidity

Bitcoin Surge Expected as BitMEX Co-Founder Anticipates Rise in Dollar Liquidity

Arthur Hayes, co-founder of BitMEX, has urged Bitcoin enthusiasts to remain focused on the cryptocurrency, citing a significant increase in US dollar liquidity. Hayes shared a chart showing changes in net reverse repurchase agreement (RRP) and treasury general account (TGA) balances, suggesting a correlation between dollar liquidity and the price of Bitcoin. Crypto analyst dharmafi provided more specific figures, revealing an RRP of $65 billion and a TGA balance of $35 billion, resulting in a net liquidity surge of $106 billion since November 21. This liquidity increase has raised questions about its potential impact on various asset classes, including cryptocurrencies. Meanwhile, US Treasury Secretary Janet Yellen has warned cryptocurrency exchanges to comply with regulations to operate within the country’s financial system.

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